On July 31, 2023, Dangote Sugar Refinery Plc. made an official announcement to the Nigerian Exchange Limited and the investing public, confirming its intention to merge with NASCON Allied Industries Plc. and Dangote Rice Limited. The board of directors of Dangote Sugar recommended the proposed merger on July 28, the same day when NASCON's board also approved the merger plan.
The merger is planned to be executed as an internal restructuring through a Scheme of Merger, and its successful implementation is dependent on the agreement of terms and conditions by all parties involved, namely Dangote Sugar Refinery, NASCON, and Dangote Rice Limited. All three companies are subsidiaries of Dangote Industries Limited.
The decision of Dangote Sugar's board aligns with the earlier press release from NASCON, which outlined a similar merger plan, with the caveat that it is subject to regulatory and shareholder approvals.

In the next steps, Dangote Sugar will seek approval from the Securities and Exchange Commission for the proposed Scheme, and the merger will also be subject to approval from shareholders during the respective Court-Ordered Meetings and the sanction of the Federal High Court."
Dangote Sugar emphasized that the merger aims to solidify and enhance the Group's position in the market and establish a strong base to capitalize on future prospects in the food industry.
More information regarding the merger will be disclosed after obtaining all required approvals from shareholders and regulatory bodies. Shareholders are advised to exercise caution when trading the Company's shares until further updates are provided.

Nairametrics will keep a close eye on this evolving situation and provide continuous updates, closely monitoring one of the potentially most significant and transformative deals in Nigeria's food sector.

On July 31, 2023, Dangote Sugar Refinery Plc. made an official announcement to the Nigerian Exchange Limited and the investing public, confirming its intention to merge with NASCON Allied Industries Plc. and Dangote Rice Limited. The board of directors of Dangote Sugar recommended the proposed merger on July 28, the same day when NASCON's board also approved the merger plan.
The merger is planned to be executed as an internal restructuring through a Scheme of Merger, and its successful implementation is dependent on the agreement of terms and conditions by all parties involved, namely Dangote Sugar Refinery, NASCON, and Dangote Rice Limited. All three companies are subsidiaries of Dangote Industries Limited.
The decision of Dangote Sugar's board aligns with the earlier press release from NASCON, which outlined a similar merger plan, with the caveat that it is subject to regulatory and shareholder approvals.

In the next steps, Dangote Sugar will seek approval from the Securities and Exchange Commission for the proposed Scheme, and the merger will also be subject to approval from shareholders during the respective Court-Ordered Meetings and the sanction of the Federal High Court."
Dangote Sugar emphasized that the merger aims to solidify and enhance the Group's position in the market and establish a strong base to capitalize on future prospects in the food industry.
More information regarding the merger will be disclosed after obtaining all required approvals from shareholders and regulatory bodies. Shareholders are advised to exercise caution when trading the Company's shares until further updates are provided.
Nairametrics will keep a close eye on this evolving situation and provide continuous updates, closely monitoring one of the potentially most significant and transformative deals in Nigeria's food sector.